WhatsApp is one of the world’s largest instant messaging platforms but the Facebook-owned platform doesn’t have a good monetization model, despite having billions of monthly active users globally.
However, the company has been bringing several new features that have the potential to become a revenue stream for the application. One of them is WhatsApp Pay which was officially launched in India last year after being stuck for a couple of years because of regulatory issues with the Indian government.
Despite WhatsApp being the most used mobile application in India, the payment service built into the app didn’t take off. Now, to encourage more people to use its payment service, the company is reportedly considering offering cashback rewards.
As per the report, the company could be offering a one-time cashback reward of ₹10 (~$0.14) which will be crediting into the account with 48 hours. Also, it could be available only to those who are transacting through WhatsApp Pay for the first time.
The reward suggested for using the payment service is quite low when compared to what other players in the Indian market offered during their initial launch. But there’s a possibility that the reward amount could get increased.
In India, the WhatsApp Pay feature is based on the Unified Payments Interface (UPI) standard — the same system that is used by other payment apps such as Walmart’s PhonePe, Google’s Google Pay, and PayTM, among others.
Do note that the feature is currently under work so whenever the company decides to release it for the users, it could get changed to something else. It’s just speculation from our side, but we expect the feature to get released in the coming weeks or months.
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